The Reserve Bank of India (RBI) has recently cut key policy rates to mitigate Covid-19 impact.
RBI has slashed the Repo Rate by 75 basis points to 4.4%.It has cut the Reverse Reop Rate by 90 basis points to 4% andCRR has been reduced by 100 baiss points to 3%.
In view of the above, most of the .......Continue Reading.....

Effective from FY 2020-21, an individual tax assessee will have an option to go for new Tax Slab Rates by forgoing the existing Income Tax Deductions and Exemptions, like HRA, Section 80C, Home loan tax benefits etc.,
So, to avail the below new tax regime, which is optional, taxpayers will have .......Continue Reading.....

CBDT has recently announced the launch of new Instant PAN allotment provision. This latest facility has been made available on the Income Tax e-filing portal.
Instant PAN allotment will now be done in near to real-time at free-of cost. Individuals (other than minors) with a valid Aadhaar number .......Continue Reading.....

The residential status of taxpayers plays a key role in determining the scope of taxable income (Indian Income / Foreign Income) for a financial year in India and there by the tax payable.
The residential status of an individual is based on the duration for which he/she is present in India. .......Continue Reading.....

Budget 2020 has sparked a new debate on which income tax slab rates are beneficial for tax assessees (New Tax Regime Vs old one).
A new income tax regime has been proposed in Budget 2020. A taxpayer can opt for it by forgoing 70 income tax exemptions.
Offering an optional lower rate of .......Continue Reading.....

Capital asset typically refers to anything that you own for personal or investment purposes. It includes all kinds of property; movable or immovable, tangible or intangible, fixed or circulating.
Capital assets are further classified as Financial Assets and Non-Financial Assets. Financial .......Continue Reading.....

The Indian Finance Minister has tabled today, the Union General Budget 2020-21 in the Parliament. Below are the latest Income Tax Slab Rates for FY 2020-21 or AY 2021-22. (FY is Financial Year and AY is Assessment Year)
Latest Income Tax Slab Rates FY .......Continue Reading.....

The Reserve Bank of India (RBI) has recently released its fifth bi-monthly rate review of financial year 2019-20. Though the key interest rates have been kept unchanged, the RBI has been cutting the rates since February 2019.
There have been five consecutive rate cuts from RBI - in February, .......Continue Reading.....

ReLakhs.com is a blog on personal finances. The main aim is to present the information on financial products in a simple, unbiased and easy to understand manner .
This blog covers wide array of personal finance topics like insurance,home loans,banking services,mutual funds,tax planning,stock .......Continue Reading.....